The St. Regis New York

Yes

Could you provide a referral? We want to buy here but are concerned about the timeshare lawsuits. Thanks

I don't have a referral, but can you share the advantage of owning these? If I multiply out only the tax + maintenance by the number of days, it's over $600 a day. And this is before the purchase price.

These rooms go for well over 1,000 per nite, and suites much more

These rooms go for well over 1,000 per nite, and suites much more

What percentage of time can you rent it and commission for the hotel to arrange rental.

If you are interested in these units, I recommend also looking at The Phillips Club at 155 W66th.

Many of the comments above are a bit off the mark. As one of the top agents doing deals in the building, I can answer all your questions.

Robert Mobley
917-549-8767

https://therealdeal.com/2016/12/08/over-100-st-regis-club-suite-owners-are-taking-the-esteemed-hotel-to-court-2/

Perhaps Mr. Mobley will articulate his investment thesis. How much in fees and rental commission you pay, actual occupancy rates, and what rents you get etc?

I am also curious who gets the "leftover" days: the fractional ownership is 1/12th and you get 28 days. So essentially there is one entire ownership shares worth of days left unassigned. If they go to management I bet I can guess who's days get rented first.

30, It seems you are paying for 28 days of use. Not sure what the arrangement is with management if you do not use these days.

Partial conversion of first tier hotels to condo or fractionals was a popular way to squeeze out a little more cash flow for management and justify the ridiculous prices being paid for hotels as well as for land zoned for mixed use in Manhattan as well as other major cities. It was never designed nor really even marketed as good investments other than as an alternative to a hotel stay. StreetEasy has a number of discussions of similar projects such as Philips Club where buyers admit they do not buy as investments but rather for convenience.

I assume owners have to pay for the "floating" days they have the right to use, cost determined by time of year?

My guess is that NYS law would require some kind of wall between ownership and short-term rentals to avoid conflict of interest but I also guess there are ways to game this.

300,
My point is that you are paying for 1/12 ownership, but you are getting 1/13 use. There are 29 unassigned days per unit, which is greater than one whole fractional ownership allotment use wise, but no costs are assigned.

Feel free to email me with any questions you might have regarding this building.
Michelle.Buckley@elliman.com